USDJPY – A promising opportunity to make sell trades

12.01.2024

The price still made an attempt to grow even more, but managed to barely renew the local maximum. Active selling has started, which may lead the price back to the initial point of growth of this wave.

It is still assumed that wave b of the zigzag will be formed in this way. The potential of the movement is quite good and it is possible to consider the option with conclusion of deals on sale at the current market values.

Besides, it may turn out that the zigzag is finally formed and by starting to sell now we will get to the very beginning of the development of wave (iii) of the downward impulse.

Thus, the situation looks very promising for selling and it is recommended to try to participate in this movement.

Recommendations: Sell 145.10, SL 145.50, TP 143.25.